System and method for providing borrowing schemes

ABSTRACT

A system and method providing a borrowing scheme. The method comprises the steps of: receiving a time-based spending alert threshold designation from a user via the network; receiving at least one category of transaction designations from the user via the network, wherein each of the categories is associated with a portion of the time-based spending alert threshold designation; automatically allocating user transactions among the categories using the programmed computer processor; notifying the user via the network of the portion of the time-based spending alert threshold designation for a particular category that is being approached or surpassed; and automatically modifying the portion of the time-based spending alert threshold designation for the particular category for the upcoming period of time if the limit is surpassed, wherein the modification is performed by the programmed computer processor.

CROSS REFERENCE TO RELATED APPLICATIONS

The present invention claims priority to U.S. Provisional ApplicationNo. 61/030,474, filed Feb. 21, 2008, the contents of which areincorporated herein by reference in their entirety.

FIELD OF THE INVENTION

The present invention relates to systems and methods for providingcredit or other financial services to a consumer. More particularly, thepresent invention relates to systems and methods for the provision ofborrowing schemes that provide users with flexibility in: (1) financingpurchases or other transactions, and (2) managing credit, accountbalances or loans.

BACKGROUND

Increasingly, consumers are growing accustomed to making cash-lesspurchases and transactions with cards or other transaction devices, suchas credit cards, debits cards, gift cards, or other like devices. Creditcards, in particular, offer the consumer easy access to money inexchange for payment of an interest rate on any outstanding balances.Credit limits and interest rates are established based in part on aconsumer's income, employment status, and past credit history.

While the use of credit and cash-less transactions have increaseddramatically over the years, traditional schemes for offering credit toconsumers and processing cash-less transactions in general have notchanged much. Most providers of credit require a periodic payment (e.g.,monthly) that is based on the outstanding balance and may includeinterest charges accrued over time. The consumer has little to noability to define, alter or change the charges accrued over time. Theconsumer has little to no ability to define, alter or change thefinancial terms of obtaining credit, either before or after the creditline is established and transactions are made and balances accrue. As aresult, many consumers lack flexibility in using credit. Whether acredit transaction is for a necessary or discretionary purchase, theformula of compounding interest on outstanding balances and submittingperiodic payments remains the same.

One solution has been to offer consumers rewards for transactions. Theserewards may comprise cash-back, rebates, cash, points or other form ofredeemable value. For example, a consumer that makes purchases with acard or device that is sponsored by or co-branded with an airline mayreceive airline miles that may be redeemed for free travel. However,while these promotions may serve to induce consumers to pick one card ortransaction device over another, they do not provide the consumer withthe ability to effect, define, alter or change the terms of a creditrelationship.

Another solution gives consumers a line-of-credit which will not accrueinterest for a designated period of time. For example, many retailstores offer promotional programs where a consumer can obtain a creditcard which will not accrue interest for 90 days, 6 months, one year, orany other desired period of time. Similar promotions do not require apayment for a certain period of time, while others require no payment orinterest during a promotional period. While these schemes provide somemeasure of relief to the consumer, they do not permit the user theongoing flexibility to designate, define or change the terms of thecredit arrangement before or after credit is established. Thepromotional periods are determined by the credit provider and are notbased upon the particular consumer's needs or circumstances. Further,once the promotional period ends, the traditional scheme of periodicpayment and compounding interest goes into effect, with little to noability for the consumer to selectively alter or modify the terms ofcredit on an as needed basis.

Another known lending approach charges a flat interest amount for agiven balance range. For example, a consumer may be charged a first APRfor balances up to $1,000, a second APR for balances between $1,001 and$5,000, and a third APR for balance in excess of $5,000. Another knownapproach permits installment payments to be made on existing balances.Yet another approach lowers next month's APR based on the percentage ofa balance paid in the current month/cycle. However, while theseapproaches afford the consumer some flexibility in obtaining credit,they still do not afford the consumer the ability to designate, define,alter or change the terms of the credit arrangement before or aftercredit is established. Similarly, current techniques do not offer orissue statements which comprehensively provide a consumer withinformation and options related to transactions and account balances orloans.

SUMMARY OF THE INVENTION

According to various embodiments, the systems and methods describedherein relate to, among other things, borrowing schemes andcorresponding statementing features which provide users with flexibilitywhen borrowing funds, cash or other value, or managing balances or otherloan particulars. In particular, the systems and methods describedherein provide different borrowing schemes, for example, which may beoffered to account holders or users of a transaction card or devicewhich may be used for purchases, balance or loan management, or othertransactions. The borrowing schemes may be initiated or engaged by aconsumer as needed, or offered as promotional products or features bythe administrator of an account, transaction card or device, such as,for example, a bank, financial institution, or any individual or entitythat may be administering or involved in the issuance or processing ofaccounts or transactions cards or devices.

Examples of each of the schemes is described below. However, theexamples provided are not intended to limit the variations andembodiments of the schemes as appreciated by one of ordinary skill inthe art. In addition, the names of the individual schemes are providedonly as examples, but are not intended to limit or define in any way theclaimed systems and methods.

1) Chase Simple

In this scheme, a customer may revolve up to a designated balance ortransaction amount without paying interest rates. In some embodiments,such designated balance or transaction amount may be selected ordesignated by the customer before a transaction, at the time of atransaction, or after the transaction. For example, a customer mayspecify which transactions are to be processed interest-free based uponmerchant or vendor identity (e.g., via merchant category code (MCC)),amount spent, transaction level, products or goods purchased, or anyother category designation that may be used to identify balances ortransactions that are not to accrue interest as set forth herein. Forexample, a customer may specify that purchases of more than $2,000 notincur interest, or that purchases or transactions with select merchantsor for certain types of goods or services not incur interest. Otherparameters are possible. As with all the borrowing schemes describedherein, a customer may make his or her selections by interacting with anonline web site or portal, for example, where the customer may input thenecessary parameters required to initiate Chase Simple. Designations andselections may also be made via an interactive voice response system, ora live customer service agent, for example.

In some embodiments, a customer may be required to pay a membership fee,service charge, or make a minimum monthly or other periodic payment, forexample, in order to receive the Chase Simple program. The customer maythen pay down the principal at the customer's discretion so long as thefee, charge or minimum payment requirement is being met. In someembodiments, the fee, charge or minimum payment may be based on thecustomer's credit limit or line or other borrowing particular, while inother embodiments it is not based on the credit limit or line or otherborrowing particular. In addition, in some embodiments statements may besimplified so that dollar amounts are rounded down. Further, missedpayments may be charged by the day or other period of time (e.g.,$1/day). In some embodiments, after a predetermined period or cycle oftime (e.g., at the end of the first year), the customer may receive anannual borrowing report which includes a progress score, such as, forexample, 0-100. The report may show score progress during the year(e.g., improvement/reduction). In some embodiments, parameters of thecardholder's account may be modified such that the customer's monthlymembership fee, for example, has been lowered/increased as a result ofhis borrowing performance. Other parameters may be modified or revised.

According to one embodiment of the systems and methods described herein,a method for providing a borrowing scheme, wherein the method isexecuted by a programmed computer processor which communications with auser via a network is provided. The method comprising the steps of:establishing an interest-free revolving amount or account using thecomputer processor; establishing a periodic payment for maintaining theinterest-free revolving amount or account using the computer processor;and automatically revising the interest-free revolving amount or accountor the periodic payment using the computer processor based upon at leastone user performance metric over a predetermined period of time; whereinthe interest-free revolving amount or account or the periodic paymentfor maintaining the interest-free revolving amount is determined by theuser via the network.

In another embodiment of the systems and methods described herein, asystem for associating a borrowing scheme with a transaction device isprovided. The system comprising: a transaction card, device or accountassociated with a user; and a borrowing scheme processor for receivingfrom the user a request to associate the card, device or account with aninterest-free revolving amount or account and a periodic payment formaintaining the interest-free revolving amount or account, wherein theinterest-free revolving amount or account or the periodic payment formaintaining the interest-free revolving amount is determined by a user,and wherein the interest-free revolving amount or account or theperiodic payment is revised based upon at least one user performancemetric over a predetermined period of time.

In another embodiment of the systems and methods described herein, asystem for associating a borrowing scheme with a transaction device,comprising: a transaction card, device or account associated with auser; and a borrowing scheme processor for receiving from the user arequest to associate the card, device or account with an interest-freerevolving amount or account and a periodic payment for maintaining theinterest-free revolving amount or account, wherein the interest-freerevolving amount or account or the periodic payment for maintaining theinterest-free revolving amount is determined by a user via an onlineportal or by communicating with a live agent, and wherein the periodicpayment comprises: (1) a fee or charge, and (2) a daily, weekly,monthly, quarterly, yearly or any other cyclical payment, and whereinthe interest-free revolving amount or account or the periodic paymentis: (1) revised based upon at least one user performance metric over apredetermined period of time, and (2) comprises a credit or transactionlimit, and wherein the at least one user performance metric over apredetermined period of time comprises a predetermined number of timelypayments, a predetermined number of transactions, or maintenance of aminimum transaction balance, and wherein the at least one userperformance metric over a predetermined period of time comprises apredetermined number of timely payments, a predetermined number oftransactions, or maintenance of a minimum transaction balance, andwherein the interest-free revolving amount or account begins to accrueinterest if the periodic payment for maintaining the interest-freerevolving amount or account is not made.

In another embodiment of the systems and methods described herein anautomated method for providing a statement corresponding to a pluralityof borrowing schemes, wherein the method is executed by a programmedcomputer processor which communicates with a user via network isprovided. The method comprising the steps of: determining at least oneborrowing scheme a user is enrolled in; receiving transaction andaccount particulars associated with the at least one borrowing schemefor a module or processor associated with the at least one borrowingscheme; automatically generating statement details associated with theat least one borrowing scheme; and providing the statement details tothe user via an online statement or a physical hard copy statement.

2) Chase Moments

In this scheme, a customer may designate a particular event or moment(e.g., having a baby, going to college, vacation, etc.) that is toreceive particular borrowing terms or other treatment. Such event ormoment may constitute a purchase or other transaction, or any event orperiod of time during which the customer desires to receive different ormodified borrowing terms. For example, the customer may want helpfinancing a big purchase, such as a vacation or other like event. UsingChase Moments, a customer may go online and designate the event ormoment (e.g., designate an upcoming vacation). In some embodiments, thesystems and methods described herein may prevent various options for thecustomer to select from, or solicit criteria or information from thecustomer in order to better define the event or moment or to tailoroffers that may be of relevance. For example, the systems and methodsdescribed herein may ask or receive from the customer the location, timeframe, or other like information associated with the event or moment. Insome embodiments, such information may be determined by theadministrator of Chase Moments based on the event or moment defined bythe customer.

Based on the criteria or information provided by the customer, thesystems and methods described herein may then tailor particular offersthat may be of interest or relevance to the customer. In someembodiments, for example, assuming the event or moment is the customer'svacation, the customer may receive discounts for hotel, rental car, andother vacation related goods or services. In some embodiments, thecustomer's purchases or transactions during the trip receive a benefit.In some embodiments, the benefits received may be determined by theadministrator, while in some embodiments the benefits are determined bythe customer. For example, the customer may get interest on trippurchases deferred for an extra month. Other benefits are of coursepossible. The next month the customer may get her first statement in themail. In some embodiments, the customer may earn vacation rewards andreceive vouchers that she can use for her next vacation. In someembodiments, the systems and methods described herein may separatevacation expenses and transactions from other transactions, allowing thecustomer to pay down transactions from the trip or individually, or havesuch transactions receive particular benefits. In some embodiments,individual transactions associated with the vacation may be organized insuch a way that a customer may selectively pay down different tripexpenses, such as, for example, lodging, dining, entertainment.

In an embodiment of the systems and methods described herein, a methodfor providing a borrowing scheme is provided. The method comprising thesteps of: determining a designated event; determining parametersassociated with the designated event; providing incentives, such asupgrades, discounts or access, for example, associated with thedesignated event; determining whether a transaction is associated withthe designated event; rewarding at least one benefit to the transactionsassociated with the designated event; and allowing a user to selectivelypay down transactions associated with the designated event.

3) My Chase

This scheme permits a customer to schedule alerts to be delivered to thecustomer based on customer transaction behavior. In some embodiments, acustomer may set alerts for particular types or categories oftransactions. Such alerts may be based on thresholds or limitsdesignated by the customer. For example, a customer may request an alertwhen the customer spends a total $100 on coffee, for example, or spends$20 at a particular merchant or vendor. Thresholds and limits may be setfor merchant category code (MCC), merchant or vendor identity, amountspent, transaction level, products or goods purchased, or any othercategory designation that may be used to initiate the generation andtransmission of alerts as set forth herein. In some embodiments,thresholds, limits and category designates are determined by thecustomer, whereas in some embodiments they are determined by theadministrator of the systems and methods set forth herein or any otherthird party. In some embodiments, the thresholds or limits may beimposed for a predetermined period of time. For example, a customer maydesignate $500 per year on clothing, or $20 per week on coffee, or $100per month on dining. Other examples are of course possible.

In some embodiments, alerts may be sent to any location or device thatmay be designated by the customer, the administrator of the systems andmethods described herein, or any third party. For example, alerts can betransmitted via email, telephone, mail, fax, or any other form ofcommunication. Alerts may also be automated, while in some embodimentsthey may be delivered by a live agent.

In some embodiments, My Chase may be thought of as a budgeting tool thathelps a customer manage debt. With My Chase, for example, a customerreceives feedback on spending and borrowing, as well as the ability tocreate limits that make sense for her. For example, the card presents amonthly spending threshold. With My Chase a customer is able to decidehow much she wants to borrow on a monthly basis. For example, a customermay choose $500 a month as a general spending threshold. In someembodiments, the customer may divide the $500 across a number ofdifferent categories. For example, the customer may set her “clothes”threshold at $300 a month and thresholds for two other categories aswell. My Chase also gives the customer the option to set up customthreshold alerts, a valuable feedback loop, and decides when and how thealerts will be sent and personalizes her message.

For example, assume a customer buys a dress. Shortly after thetransaction, a customer may get a text message with a threshold alert.The message reassures the customer that she's still comfortably withinher borrowing threshold for clothes, and she checks how much more shecan borrow this month and still stay on track. Every month, the customerlooks at her statement to see a summary of her spending and borrowingactivity and how that relates to the personal thresholds she set forherself. In some embodiments, a customer may receive a progress reportwhich tracks how she's doing so that the customer may make adjustmentsfor next month. For example, this month the customer stayed on trackwith most of her borrowing, but went a little too far with clothes. Thismight reduce the allocated threshold for clothes (or another category)for next month. The customer's statements breaks transactions down intocategories that are meaningful to the customer. In some embodiments, thecustomer is able to pay down specific categories one by one.

In an embodiment of the systems and methods described herein, a methodfor providing a borrowing scheme is provided. The method comprising thesteps of: receiving a time-based spending alert threshold designationfrom a user; receiving at least one category of transaction designationsfrom the user, wherein each of the categories is associated with aportion of the time-based spending alert threshold designation;allocating user transactions among the categories; notifying the user ofthe portion of the time-based spending alert threshold designation for aparticular category is being approached or surpassed; and modifying theportion of the time-based spending alert threshold designation for theparticular category for the upcoming period of time if the limit issurpassed.

4) Chase Finish Line

This scheme is designed to help a customer pay down a balance ortransaction(s). In some embodiments, the balance or transaction(s) maybe determined by the customer, such as by, for example, selecting aportion of an outstanding balance or particular transaction(s) to whicha custom, fixed or adjustable pay down plan is to be applied. In someembodiments, the customer may designate particular pay down terms andthe systems and methods described herein may determine other pay downterms based on the customer's selections. For example, a customer maydesignate a pay down goal of two years to pay off a recent purchase andthe systems and methods described herein may calculate a requiredmonthly payment that would permit the customer the pay off thetransaction in two years. If the monthly payment does not satisfy thecustomer, the customer may pick a more manageable monthly payment of$400 and the system and method described herein can calculate a how longit would take to pay down the balance or transaction at that monthlyrate.

In some embodiments, Chase Finish Line may show progress towards a goalor pay down plan. For example, as the customer diligently makes his $400monthly payments to pay down a balance or transaction, Chase Finish Linemay show progress towards the goal in the statement issued to thecustomer. In some embodiments Chase Finish Line may issue rewards orother incentives for timely payments to pay down of selected balance ortransactions. For example, every on-time payment the customer makes mayearn reward points or credits that may be accumulated and redeemed forany number of incentives. Such incentives may relate to the particularbalance or transaction being paid down. For example, if the customerstays on track, he may earn sufficient points or credits so that thefinal payment may be waived or made for him. In some embodiments, pointsor credits accumulated through Chase Finish Line may be applied toanother rewards bank of the customer, such as a rewards program.

In some embodiments, Chase Finish Line may permit the customer toselectively control payment due dates. For example, assume that a yearinto paying down a particular balance or transaction, the customer findsout his car's transmission needs to be replaced. The customer wants tostay on track with his Chase Finish payments, but this month poses anexceptional challenge for him because of the unexpected expense ofreplacing the transmission. To accommodate this circumstance, ChaseFinish Line permits the customer to push or delay his payment out amonth (or any other predetermined period of time) so that the customermay meet the unexpected expense without financial difficulty.

In some embodiments, a customer may use Chase Finish Line to designateany number of balance or transaction buckets, each one of which may beassociated with a particular pay down plan. For example, a customer mayhave a “necessities” bucket devoted to purchases made at a grocerystore, home expenses and other like necessities. Another bucket may bedevoted to entertainment expenses and may include expenses atrestaurants, movie theaters, and other like entertainment relatedpurchases and transactions. Each of these buckets may then be associatedwith a particular pay down plan which may be revised or modified asneeded.

In an embodiment of the systems and methods described herein, a methodfor providing a borrowing scheme is provided. The method comprising thesteps of: receiving at least one pay down parameter associated with atleast one transaction or portion of balance amount, wherein the at leastone pay down parameter is provided by a user; determining at least oneother pay down parameter based on the user selection, wherein the atleast one pay down parameter and the at least one other pay downparameter comprise the pay down terms for the transaction balance; andpermitting the user to selectively modify the terms of pay down during apay back period.

5) Chase Split

Chase Split is a feature that splits purchases into designated paymentarrangements, such as, for example, a predetermined number of monthlypayments. For example, a customer may choose to split a particularpurchase or transaction into 4 monthly payments, into 12 payments, orany number of payments that the customer may desire. The designatedpayments may then be paid manually or set up through an auto payarrangement (e.g., a monthly or other cycle payment that would bededucted from the customer's checking or other account). In someembodiments, the systems and methods described herein may also permitthe customer to designate an account hierarchy so that a secondary orother account may be utilized if the primary account selection lackssufficient funds or credit.

In some embodiments, a customer may initiate or engage this feature bydesignating a particular balance or transaction to be split into anynumber of payments. Such designation may be made before the transaction,at the time of the transaction, or after the transaction. For example, acustomer may access an online portal or other interface associated withthe administrator of the systems described herein to select particularparameters that define how transactions should be processed and split.In some embodiments, a customer may set up parameters so that certaintypes or categories of transactions are split into a predeterminednumber of payments. In some embodiments, a customer may selectivelyarrange for the splitting of transactions based upon merchant categorycode (MCC), dollar value, geographic location, time of transaction, orany other parameter that may be used to process and split transactions.For example, the customer may specify that purchases or transactionsover $300 are split automatically into four (or any number of payments),while purchases or transactions that are less than that amount are paidin full. In some embodiments, a customer may specify that purchases ortransactions at a particular merchant or category of merchant (e.g., adepartment store) be split into a designated number of payments, whereaseveryday expenses (e.g., groceries, gasoline, etc.) are automaticallypaid in full or according to another split schedule. Likewise, acustomer may designate particular goods or services be split into adesignated number of payments. For example, a customer may request thather daily latte purchase be split into two payments or other appropriateor desired payment cycle.

In some embodiments, the systems and methods described herein may imposecertain thresholds on split payments. For example, assume a customerpurchases a particular dress at a department store. On her first onlinebilling statement, the customer may see the dress laid out in thedesignated monthly or other cycle payments. The first payment may be,for example, the interest up front ($25), followed by the 4 equalpayments of $100. The customer may also see in her statement thatsmaller expenses are rolled into one sum total of $250. She can splitthat total into 4 monthly payments or pay it off immediately. Thecustomer may decide to pay off the “other” category right away. In someembodiments, the customer may set a monthly threshold of a designatedamount (e.g., $500) so that in the aggregate the total amount duemonthly or other cycle does not become unmanageable. In someembodiments, the customer may initiate a message alert option which letsthe customer know if she is coming close to her designated threshold.

In some embodiments, the systems and methods described herein may permitthe customer to look ahead to future months and anticipate how she isdoing with respect to her borrowing thresholds. For each month thecustomer may see a threshold tracker that provides a quick snapshot ofhow close her upcoming payments are to her threshold. In addition tomaking her borrowing predictable, the systems and methods describedherein may reward the customer for making her payments. For example, thecustomer may earn reward points or other value for every on-time splitpayment.

In an embodiment of the systems and methods described herein, a methodfor providing a borrowing scheme is provided. The method comprising thesteps of: receiving from a user a first pay term parameter associatedwith a first category of transactions; receiving from the user a secondpay term parameter associated with a second category of transactions;categorizing an incoming transaction as a first or second categorytransaction; and invoicing the user for the upcoming transactionaccording to the first or second pay term parameter.

6) Take Charge

Take Charge is a feature that permits a customer to designate certaintransactions or balances to be paid in full each month. A customer maydesignate which transactions or balances are to be paid in full basedupon merchant category code (MCC), merchant or vendor identity, amountspent, transaction level, products or goods purchased, or any othercategory designation that may be used to identify balances ortransactions. For example, a customer may designate that any transactionbelow $200 be paid in full each month, or that all transactions with aparticular or category of merchants or for a particular or category ofgoods or services be paid in full each month. Based on the customer'sdesignations, the systems and methods described herein may process acustomer's transactions and add qualifying transactions into apay-in-full bucket and reported as such in the next statement. Thecustomer may then send a payment to zero out the paid in full bucket, orthe customer may enroll in auto pay so that the amount is automaticallypaid at the end of the month. If the customer does not pay off the paidin full bucket, then the systems and methods described herein may movethe balance back to an interest charging bucket, such as a standardrevolving balance or a balance associated with any other borrowingscheme.

Another aspect of the invention relates to the statementing of accountparticulars which correspond to the borrowing schemes described above.For example, in some embodiments, a statementing feature of theinvention may organize data and information related to a customer'saccount into a statement or other account documentation which includesparticulars on the customer's transactions with the account, such astransaction date, amount, merchant identity, and other relevant details.In some embodiments, the statementing feature may receive and processdata and information related to the various borrowing schemes described,and then organize and incorporate such data and information into astatement or other account document to be presented to the customer. Insome embodiments, such statement or other account document may includedetails about the customer's account transactions and balances, and mayparticularly present transactions and balances associated with any ofthe borrowing schemes described herein. In some embodiments, grouptransactions may be presented on a statement by merchant category code(MCC) to help customers understand spending.

In some embodiments, the statementing feature of the invention may alsopresent a customer with the opportunity to select a desired due date,even though statements may still be issued monthly or periodically. Forexample, a customer may request that payments be due every two monthsrather than the traditional monthly cycle. Upon receiving such arequest, the statementing feature may calculate the minimum paymentsthat would be due under such a payment cycle, as well as other paymentparticulars relevant to the borrowing schemes the customer has enrolledin. For example, a statement may present transactions, balances andpayments due (including minimum payments) under each of the particularborrowing schemes.

In addition to the specific borrowing scheme details described above,the various borrowing schemes may have certain general characteristics,terminology, functionality or features in terms of how a borrowingscheme is effected or carried out. For example, as used herein, a card,device or account may comprise any card, device or account that may beused to provide funds and/or enter into transactions, such as, forexample, purchases, deposits, withdrawals, balance management, loanmanagement, funds transfer, or any other financial transaction. A cardor device may also comprise any RFID or biometric capability orfunctionality to ensure reliable and secure transactions.

In addition, customer or card-holder interaction with a financialinstitution, for example, in connection with the various borrowingschemes may be accomplished via a network interface (e.g., an onlineportal) that permits the customer or card holder to receive and providedata and information related to various borrowing schemes. In someembodiments, the interface may permit the customer to interact with thesystems and networks that are administering the borrowing schemes, suchas, for example, borrowing scheme processing station 105 described inFIG. 1. Such interface may comprise, for example, an internet or othernetwork web site wherein the customer or card holder may interact withthe administrator of the borrowing schemes to either initiateparticipation in or engage a particular scheme. In some embodiments, acustomer may interact with a financial institution in connection withthe borrowing schemes herein by communicating with a customer servicerepresentative (CSR) and providing information and designations relatingto the borrowing schemes.

In some embodiments, participation in a particular scheme may requirepayment of a fee or other charge, while in some embodiments no fee orcharge is incurred. In some embodiments, the borrowing schemes disclosedherein may be implemented by the central processing station of theadministrator of an account or transaction card or device. For example,the systems or networks which issue or maintain cards or accounts,permit balance or loan management, or process transactions of cardmembers and reconcile accounts of the card members, may offer thevarious borrowing schemes disclosed herein. In some embodiments, theprocessing associated with the borrowing schemes may be controlled byvarious modules, algorithms or processors which perform some or all ofthe requisite functionality. Such modules, algorithms or processors maybe part of or cooperate with the systems or networks which processtransactions of card members and reconcile accounts of the card members.

In general, the borrowing schemes comprise various concepts or featuresthat enable a customer (e.g., a cardholder) to better manage oradminister his or her balances, loans, use of credit, transactions,and/or expenses. A customer may selectively initiate or engage theschemes on an as-needed basis, or the customer may be enrolled at thetime an account or transaction card or device is opened or issued. Insome embodiments, the schemes are features that are provided to accountholders in the normal course as part of the services and featuresassociated with a particular card, device or account. However, thefeatures are not intended to (but certainly may if the customer sodesires) override or trump other payment requirements. For example, if aparticular balance or transaction has a minimum payment requirement, thecustomer need only pay that amount in order to stay current. That is,the payments determined by the various concepts disclosed herein areintended to facilitate and give control to the customer on managingbalances and loans, are not intended to complicate matters for thecustomer by imposing higher payment requirements. In addition, in someembodiments, a customer may participate in any number of schemes, andinformation regarding any of the schemes may be provided to the customervia statements and other account documentation.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 shows an exemplary system 100 for providing varying borrowingschemes, according to various embodiments of the invention.

FIG. 2 illustrates various exemplary modules that may be associated withborrowing scheme processing station 105, according to variousembodiments of the invention.

FIG. 3 illustrates a process flow for providing the Chase Simpleborrowing scheme, according to various embodiments of the invention.

FIG. 3 a illustrates another process flow for providing the Chase Simpleborrowing scheme, according to various embodiments of the invention.

FIG. 3 b illustrates an interface presenting details associated with theChase Simple borrowing scheme, according to various embodiments of theinvention.

FIG. 3 c illustrates a promotional offer associated with the ChaseSimple borrowing scheme, according to various embodiments of theinvention.

FIG. 4 illustrates a process flow for providing the Chase Momentsborrowing scheme, according to various embodiments of the invention.

FIG. 4 a illustrates another process flow for providing the ChaseMoments borrowing scheme, according to various embodiments of theinvention.

FIG. 5 illustrates a process flow for providing the My Chase borrowingscheme, according to various embodiments of the invention.

FIG. 5 a illustrates another process flow for providing the My Chaseborrowing scheme, according to various embodiments of the invention.

FIG. 5 b illustrates an interface presenting details associated with theMy Chase borrowing scheme, according to various embodiments of theinvention.

FIG. 6 illustrates a process flow for providing the Chase Finish Lineborrowing scheme, according to various embodiments of the invention.

FIG. 6 a illustrates another process flow for providing the Chase FinishLine borrowing scheme, according to various embodiments of theinvention.

FIG. 6 b illustrates yet another process flow for providing the ChaseFinish Line borrowing scheme, according to various embodiments of theinvention.

FIG. 7 illustrates a process flow 700 for providing the Chase Splitborrowing scheme, according to various embodiments of the invention.

FIG. 7 a illustrates another process flow for providing the Chase Splitborrowing scheme, according to various embodiments of the invention.

FIG. 7 b illustrates yet another process flow for providing the ChaseSplit borrowing scheme, according to various embodiments of theinvention.

FIG. 8 illustrates a process flow 800 for providing requesting a duedate, according to various embodiments of the invention.

FIG. 9 illustrates a process flow 900 for providing the Take Chargeborrowing scheme, according to various embodiments of the invention.

FIGS. 10 a, 10 b and 10 c collectively illustrate a sample accountstatement, according to various embodiments of the invention.

DETAILED DESCRIPTION OF EXEMPLARY EMBODIMENTS

The following is a detailed description of various embodiments thatimplement the borrowing schemes and statementing feature summarizedabove. Reference will now be made to the present preferred embodimentsof the invention, examples of which are illustrated in the accompanyingdrawings in which like reference characters refer to correspondingelements. FIG. 1 depicts a general system on which the borrowing schemesand statementing feature of the invention may be implemented. FIG. 2depicts various dedicated modules (e.g. software or executable code thatrun on any number of processors) that perform features and functionalitycorresponding to the borrowing schemes and the statementing feature.Chase Simple is particularly depicted in FIGS. 3, 3 a, 3 b and 3 c.Chase Moments is particularly depicted in FIGS. 4 and 4 a. My Chase isparticularly depicted in FIGS. 5, 5 a and 5 b. Chase Finish Line isparticularly discussed in FIGS. 6, 6 a and 6 b. Chase Split isparticularly depicted in FIGS. 7, 7 a and 7 b. Other features andschemes are depicted in FIGS. 8 and 9. Lastly, the statementing featureand a sample statement showing account details of select borrowingschemes is depicted in FIGS. 10 a, 10 b and 10 c.

Each drawing will now be described in detail:

I. Overall System Implementation

FIG. 1 illustrates a system 100 for providing borrowing schemes andprocessing transactions, according to one embodiment of the invention.System 100 may comprise a borrowing schemes processing station 105,which buy itself or in cooperation with other transaction processingsystems or networks, provides, issues or processes transactionsassociated with any number of cards, devices, or accounts. In someembodiments, transactions may be posted to accounts based upon any dataor information that may readily be used to determine or identifyappropriate accounts to which a transaction should be posted. In someembodiments, borrowing schemes processing station 105 may beadministered by a bank, other financial institution, or other thirdparty individual or entity that may provide or issue, or administerstransaction devices, such as cards, for example, (e.g., a card-issuer),a merchant or vendor that sponsors or accepts transaction devices (e.g.,a sponsor), or any individual, entity or third party that accepts,coordinates, manages or administers customer use of transaction devicesor other instruments to conduct transactions. In some embodiments,borrowing schemes processing station 105 may maintain or have access toparticulars about customers, transactions, transaction histories,account balances, merchants, and any data or information that may beused to selectively determine particular accounts to which a transactionshould be posted, which particular borrowing schemes should be appliedor adhered to. In some embodiments, borrowing schemes processing station105 may comprise a central headquarters or distributed network orrepository of the various features and functions of the systems andmethods described herein, and may be maintained by or in conjunctionwith any party or entity that administers the coordination of data andinformation in connection with the processing of transactions accordingto the systems and methods described herein.

Borrowing schemes processing station 105 may comprise a single server orengine (as shown). In another embodiment, borrowing schemes processingstation 105 may comprise a plurality of servers or engines, dedicated orotherwise, which may further host modules for performing desired systemfunctionality. Borrowing schemes processing station 105, for example,may host one or more applications or modules that function to permitinteraction between the users of system 100 (e.g., card holders,customers, card processors merchants, the administrator of borrowingschemes processing station 105, and any other relevant parties) as itrelates to exchanging and processing of data and information related tothe issuance or provisions of cards or devices or borrowing schemes andprocessing of transactions as described herein, for example. Forinstance, borrowing schemes processing station 105 may include anadministration module that serves to permit interaction between thesystem 100 and the individual(s) or entity(ies) charged withadministering system 100 or borrowing schemes processing station 105.Such an administration module may enable an agent of borrowing schemesprocessing station 105, for example, to input information related topermitted transactions/merchants, account particulars, customerinformation, including but not limited to rules and parameters used todetermine to which accounts or customers a particular transaction shouldbe posted to, or which particular borrowing scheme or functionalityshould be applied. Such rules and parameters may comprise variables thatdefine, for example, a particular type or pool of transactions that areeligible to be processed by a particular customer, merchant, card,device or account. Thus, if a particular card or device or account isassociated with a particular borrowing scheme(s), rules may dictate howincoming transactions are to be processed, such as from a billing orinvoicing standpoint, for example. Other examples are of coursepossible. Borrowing schemes processing station 105 may include, forinstance, a workstation or workstations running an operating system orplatform.

Data and information maintained by borrowing schemes processing station105 may be stored and cataloged in database 112 which may comprise orinterface with a searchable database. Database 112 may comprise, includeor interface to a relational database, or other form of database orplatform. Database 112 may comprise a single database or a collection ofdatabases, dedicated or otherwise. In one embodiment, database 112 maystore or cooperate with other databases to store the various data andinformation described herein. In some embodiments, database 112 maycomprise a file management system, program or application for storingand maintaining data and information used or generated by the variousfeatures and functions of the systems and methods described herein. Insome embodiments, database 112 may store, maintain and permit access tocustomer information, transaction information, account information, andgeneral information used to provide borrowing schemes as describedherein. In some embodiments, database 112 is connected directly toborrowing schemes processing station 105, which, in some embodiments,may be accessible through a network, such as communication network 107,for example.

Borrowing schemes processing station 105 may, in some embodiments, beaccessed via a communication network 107. Communications network 107 maybe comprised of, or may interface to any one or more of, the Internet,an intranet, or any other network or connection. Communications network107 may also comprise, include or interface to any one or more of atelephone communications network, such as the Public Switched TelephoneNetwork (PSTN). In another embodiment, communication network 120 maycomprise a Personal Branch Exchange (PBX), which may further connect tothe PSTN.

Borrowing schemes processing station 105 may, in some embodiments,interact, communicate, or otherwise interface with systems and networksthat process card or account transactions, such as, for example, a cardprocessor network or a transaction network, such as the Visa™ orMasterCard™ network, for example. Such systems and networks may beinternal within a financial institution, while in some embodiments, thesystems and networks may be external or third party systems andnetworks. By interacting with these systems and networks, borrowingschemes processing station 105 (and more particularly the borrowingscheme modules and processors described in FIG. 2) may access data andinformation on customer transactions that may be used by the variousborrowing schemes described herein. For example, if a customerdesignates certain transaction parameters (e.g., merchant or vendoridentity, amount spent, transaction type or level, products or goodspurchased, or any other category designation) to designate whichtransactions are to be processed interest-free under Chase Simple,borrowing scheme processing station 105 may utilize transactionparticulars from these systems and identify which transactions satisfythe customer's selections. For example, a customer may specify thatpurchases made at a particular electronics store not incur interest, orthat purchases or transactions for more than $1,000 or for certain typesof goods or services not incur interest. Any customer transactions thatsatisfy or validate the customer's selections would then be processedinterest-free under Chase Simple, while those that do not would accrueinterest. The other borrowing schemes may also utilize transactioninformation obtained from these systems and networks in a similarmanner. In addition, the transaction and account data may also be usedby the statementing feature described herein.

As shown in FIG. 1, merchant station 110 and customer station 115 maycommunicate with borrowing schemes processing station 105 viacommunication network 107. Merchant station 110 may comprise, forexample, a station utilized by an agent of a merchant to interact orcommunicate with its customers or borrowing schemes processing station105. For example, merchant station 110 may comprise a call centerfacility or station of a card issuer or sponsor that is manned by anoperator to receive calls from card members. In some embodiments,merchant station 110 may comprise a point-of-sale system or engine thatprocesses merchant transactions with a customer and which may furthercooperate or interact with external systems which carry out card andother transactions (e.g., credit card transactions), including withoutlimitation, for example, borrowing schemes processing station 105. Insome embodiments, merchant station 110 may comprise or host web sites orweb pages of a merchant that the merchant's customers may access tointeract with the merchant, such as to make purchases and inquiries.

Customer station 115 may, in some embodiments, enable a customer of amerchant, a holder of a transactions device, or any other person orentity that may utilize the systems and methods described herein toinquire about or purchase products, services or subscribe to or enrollin a transactions device to interact and communicate with a merchant, asponsor, financial institution, or with borrowing schemes processingstation 105 in connection with the various features and functionalitydescribed herein. For example, customer station 115 may enable acustomer to call or access the web site or page of a merchant, forexample, to browse and possibly purchase a product, or to communicatewith borrowing schemes processing station 105.

In some embodiments, customer station 115 may comprise any terminal(e.g., a typical home or personal computer system, telephone, personaldigital assistant (PDA) or other like device) whereby a customer mayinteract with a network, such as communications network 107, forexample, that is responsible for transmitting and delivering data andinformation used by the various systems and methods described herein.Customer station 115 may comprise or include, for instance, a personalor laptop computer, a telephone, or PDA. Customer station 115 mayinclude a microprocessor, a microcontroller or other general or specialpurpose device operating under programmed control. Customer station 115may further include an electronic memory such as a random access memory(RAM) or electronically programmable read only memory (EPROM), a storagesuch as a hard drive, a CDROM or a rewritable CDROM or another magnetic,optical or other media, and other associated components connected overan electronic bus, as will be appreciated by persons skilled in the art.Customer station 115 may be equipped with an integral or connectablecathode ray tube (CRT), a liquid crystal display (LCD),electroluminescent display, a light emitting diode (LED) or anotherdisplay screen, panel or device for viewing and manipulating files, dataand other resources, for instance using a graphical user interface (GUI)or a command line interface (CLI). Customer station 115 may also includea network-enabled appliance, a browser-equipped or other network-enabledcellular telephone, or another TCP/IP client or other device.

Sponsor station 120 may, in some embodiments, comprise a processingsystem of a sponsor that interacts or interfaces with borrowing schemesprocessing station 105 to perform the various features and functionalitydescribed herein. For example, sponsor station 120 may comprise thevarious processors, systems or terminals associated with (1) maintaininga listing of individuals or entities entitled to receive certainborrowing schemes, (2) providing or issuing a card or device or accountto a recipient, (3) the depositing or association of funds or rewards toaccounts of individuals or entities entitled to receive such funds orrewards as described herein, or (4) any feature or functionalityperformed by a sponsor that is associated with the systems and methodsfor providing borrowing schemes as described herein. For example, anagent of a sponsor may interact or interface with borrowing schemesprocessing station 105 via sponsor station 120.

Issuer or provider station 125 may, in some embodiments, comprise aprocessing system of a financial institution or other card or deviceissuer or provider that interacts or interfaces with borrowing schemesprocessing station 105 to perform the various features and functionalitydescribed herein. For example, issuer or provider station 125 maycomprise the various processors or terminals associated with providingor issuing a card or device to a recipient. In some embodiments, issueror provider station 125 may also comprise third party systems andprocessors that cooperate with a financial institution or otherprovider, for example, to provide or issue cards or devices toindividuals, such as, for example, a card vendor's or transactionnetwork's (e.g., Visa or MasterCard) systems or processors.

FIG. 2 illustrates exemplary modules (e.g., software or executable codethat runs on any number of processor(s)) that may be associated withborrowing schemes processing station 105 for carrying out (oradministering) the various functions and features of the embodimentsdescribed herein. In some embodiments, the various modules areassociated with or interact with the network or systems which administeran account or card or transaction device, as well as interact,communicate, or otherwise interface with systems and networks thatprocess card transactions, such as, for example, a card processornetwork or a transaction network, such as the Visa, MasterCard, AmericanExpress or Discover network, for example. By interacting with thesesystems and networks, the modules of FIG. 2 (and more particularly theborrowing scheme modules and processors described in FIG. 2) may accessdata and information on customer transactions that may be used by thevarious borrowing schemes described herein. In some embodiments, each ofthe modules may be accessed by a customer or card holder, for example,via an online portal (e.g., a web site) that presents to the user thevarious features or functionality or interfaces associated with theborrowing schemes. Such online portal may also permit the customer toprovide the necessary data or information required to initiate or engagethe particular borrowing scheme(s) desired. In some embodiments, eachmodule may present the user with various graphical user interfaces(GUIs) which present or solicit information from the user that is neededto implement the respective borrowing scheme(s). Other features andfunctionality are of course possible. While the modules may not be usedin all embodiments to perform some or all of the functions of thepresent invention, they are nonetheless presented as possibleembodiments.

Chase Simple module 200 may, in some embodiments, perform or carryoutthe features and functionality associated with the Chase Simpleborrowing scheme. In some embodiments, Chase Simple module 200 may beaccessed by a user via an online portal to present and receive data andinformation relating to the Chase Simple feature. For example, ChaseSimple module 200 may receive from a customer a balance or transactiondesignation to be processed by the Chase Simple scheme. Suchdesignations may be made before a transaction, at the time of atransaction, or after a transaction. The customer may also designatetransaction parameters that indicate the types of transactions that arenot to accrue interest. For example, a customer may specify whichtransactions are to be processed interest-free based upon, merchant orvendor identity (e.g., via merchant category code (MCC)), amount spent,transaction level, products or goods purchased, or any other categorydesignation that may be used to identify balances or transactions thatare not to accrue interest as set forth herein. For example, a customermay specify that purchases of more than $2,000 not incur interest, orthat purchases or transactions with select merchants or for certaintypes of goods or services not incur interest. Other parameters arepossible.

In some embodiments, Chase Simple module 200 may present the customerwith any relevant fees or charges associated with designating ormaintaining a non-interest bearing balance or transaction under ChaseSimple. For example, upon receiving a request from a customer requestingthat a $5,000 balance not accrue interest, Chase Simple module 200 maydetermine a monthly fee or charge (or other periodic or flat fee orcharge) that would enable the $5,000 balance to not accrue interest.Such fee or charge may be based on the amount of the balance ortransaction, customer's credit history, payment history, or any otherparameter that may be used to determine an appropriate fee or charge. Insome embodiments, Chase Simple module 200 may revise the fee or chargebased upon the user's timely payments, for example. In some embodiments,Chase Simple module 200 may calculate a score or other parameter basedupon the customer's borrowing performance. Such score may be based upon,for example, the number of on-time payments made by the customer, howmany times the customer exceeded his or her credit limit, the number ofpayments made above the minimum required, the likelihood of fraud, anyrisk of default, or any other parameter that may be used to score acustomer's performance.

Chase Moments module 205 may, in some embodiments, perform or carryoutthe features and functionality associated with the Chase Momentsborrowing scheme. In some embodiments, Chase Moments module 205 may beaccessed by a user via an online portal to present and receive data andinformation relating to the Chase Moments feature. For example, ChaseMoments module 205 may receive from a customer a balance or transactiondesignation to be processed by the Chase Moments scheme. Suchdesignations may be made before a transaction, at the time of atransaction, or after a transaction. In some embodiments, Chase Momentsmodule may provide a listing of potential moments or events that theuser can select from, whereas in some embodiments Chase Moments mayreceive from the customer certain parameters that may be used to definean event or moment. For example, a customer may provide certain dateranges, geographic locations, merchant names, or any other data orinformation that may be used to designate an event or moment. In someembodiments, Chase Moments module 205 may present the customer with anyrelevant fees or charges associated with designating or maintaining abalance or transaction(s) under Chase Moments. For example, uponreceiving a request from a customer requesting that expenses accruedduring a designated event or moment (e.g., vacation) are to receive abenefit or special treatment (e.g., no interest), Chase Moments module205 may determine a monthly fee or charge (or other periodic or flat feeor charge) that would enable the $5,000 balance to not accrue interest.In some embodiments, Chase Moments module 205 may issue rewards to thecustomer on any transactions occurring or balances incurred during theevent or moment.

My Chase module 210 may, in some embodiments, perform or carryout thefeatures and functionality associated with the My Chase borrowingscheme. In some embodiments, My Chase module 210 may be accessed by auser via an online portal to present and receive data and informationrelating to the My Chase feature. For example, My Chase module 210 mayreceive from a customer, via a GUI, for example, any number ofcategories or types of transactions or goods or services. For example,the customer may specify transactions for groceries, entertainment,gasoline, or any other category or type of transaction. In someembodiments, a customer may provide My Chase module 210 with thresholdamounts that define how much the customer would like to spend in aparticular category or type of transaction. For example, a customermight designate a threshold of $200 for monthly (or other period oftime) entertainment expenses, and $300 for monthly groceries. In someembodiments, My Chase module 210 may issue alerts as text or graphics tothe customer which inform the customer of the status of his or hertransactions versus the relevant thresholds. Such alerts may be providedto the customer via any communication channel, such as, for example,electronic mail, page, instant messaging, mail, telephone, or any otherform of communication. In some embodiments, My Chase module 210 maymodify or revise future thresholds to accommodate excessive spending bythe customer in a current cycle. For example, if the customer surpasseshis clothing threshold for the given month by $100, My Chase module 210may reduce next month's clothing threshold by $100.

Chase Finish Line module 215 may, in some embodiments, perform orcarryout the features and functionality associated with the Chase FinishLine borrowing scheme. In some embodiments, Chase Finish Line module 215may be accessed by a user via an online portal to present and receivedata and information relating to the Chase Finish Line feature. Forexample, Chase Finish Line module 215 may receive from a customer abalance or transaction designation to be processed by the Chase FinishLine scheme. Such designations may be made before a transaction, at thetime of a transaction, or after a transaction. For example, a customermay designate certain balances or transactions as to which a custom,fixed or adjustable pay down plan is to be applied. In some embodiments,the customer may designate particular pay down terms and Chase FinishLine module 215 may determine other pay down terms based on thecustomer's selections. For example, a customer may designate a pay downgoal of two years to pay off a recent purchase and Chase Finish Linemodule 215 may calculate a required monthly payment of that would permitthe customer the pay off the transaction in two years. If the monthlypayment does not satisfy the customer, the customer may pick a moremanageable monthly payment of $400 and the Chase Finish Line module 215may calculate a how long it would take to pay down the balance ortransaction at that monthly rate.

Chase Split module 220 may, in some embodiments, perform or carryout thefeatures and functionality associated with the Chase Split borrowingscheme. In some embodiments, Chase Split module 220 may be accessed by auser via an online portal to present and receive data and informationrelating to the Chase Split feature. For example, Chase Split module 215may receive from a customer a balance or transaction designation to beprocessed by the Chase Split scheme. Such designations may be madebefore a transaction, at the time of a transaction, or after atransaction. For example, a customer may designate certain balances ortransactions for which the pay down payment are to be split in adesignated manner. In some embodiments, a customer may selectivelyarrange for the splitting of transactions based upon merchant categorycode (MCC), dollar value, geographic location, time of transaction, orany other parameter that may be used to process and split transactions.For example, the customer may specify that purchases or transactionsover $300 are split automatically into four (or any number of payments),while purchases or transactions that are less than that amount are paidin full. In some embodiments, a customer may specify that purchases ortransactions at a particular merchant or category of merchant (e.g., adepartment store) be split into a designated number of payments, whereaseveryday expenses (e.g., groceries, gasoline, etc.) are automaticallypaid in full or according to another split schedule. Likewise, acustomer may designate particular goods or services be split into adesignated number of payments. For example, a customer may request thather daily latte purchase be split into two payments or other appropriateor desired payment cycle.

Take charge module 235 may, in some embodiments, perform or carryout thefeatures and functionality associated with the Take Charge borrowingscheme. In some embodiments, a customer may designate certaintransactions or balances be paid in full each month. For example, acustomer may designate that any transaction below $200 be paid in fulleach month. A customer may designate which transactions or balances areto be paid in full based upon merchant category code (MCC), merchant orvendor identity, amount spent, transaction level, products or goodspurchased, or any other category designation that may be used toidentify balances or transactions. Based on the customer's designations,Take Charge module 235 may process customer's transactions and addqualifying transactions into a pay-in-full bucket and reported as suchin the next statement. The customer may then send a payment to zero outthe paid in full bucket, or the customer may enroll in auto pay so thatthe amount is automatically paid at the end of the month. If thecustomer does not pay off the paid in full bucket, then Take Chargemodule 235 may move the balance back to an interest charging bucket,such as a standard revolving balance or a balance associated with anyother borrowing scheme.

Statementing module 230 may, in some embodiments, organize data andinformation related to a customer's account into a statement or otheraccount documentation. Such data and information may include particularson the customer's transactions with the account, including but notlimited to transaction date, amount, merchant identity, and otherrelevant details. In some embodiments, statementing module 230 maycooperate or interface with each of Chase Simple module 200, ChaseMoments module 205, My Chase module 210, Chase Finish Line module 215,Chase Split module 220, and Take Charge module 235 to receive data andinformation related to each module's respective borrowing schemes.Statementing module 230 may then organize and incorporate such data andinformation into a statement or other account document to be presentedto the customer. In some embodiments, such statement or other accountdocument may include details about the customer's account transactionsand balances, and may particularly present transactions and balancesassociated with any of the borrowing schemes described herein andappropriate graphics. In some embodiments, transactions may be groupedon statement by merchant category code (MCC) to help customersunderstand spending. An example of such a statement or account documentis presented in FIGS. 10 a, 10 b and 10 c.

In some embodiments, statementing module 230 may also present customerswith the opportunity to select a desired due date, even thoughstatements may still be issued monthly or periodically. For example, acustomer may request that payments be due every two months rather thanthe traditional monthly cycle. Upon receiving such a request,statementing module 230 may calculate the minimum payments that would bedue under such a payment cycle, as well as other payment particularsrelevant to the borrowing schemes the customer has enrolled in. Forexample, statementing module 230 may present transactions, balances andpayments due (including minimum payments) under each of the particularborrowing schemes with the appropriate graphics.

Administration module 225 may, in some embodiments, enable anadministrator of borrowing schemes processing station 105, for example,to interact with the various modules, features and functionalitydescribed herein. For example, an agent of borrowing schemes processingstation 105 may interact with administration module 255 to input, reviseand remove data and information used by the various systems and methodsdescribed herein, such as, for example, customer information, merchantinformation, transaction information, or any other data or informationthat may be used to perform the various features and functionalitydescribed herein. In some embodiments, administration module 255 mayenable an administrator of borrowing schemes processing station 105 toestablish parameters or rules associated with the various features andfunctionality described herein. For example, an administrator mayestablish limits, caps, delays, rules or fees associated with acustomer's use of the various borrowing schemes described herein. Acustomer may also be required to pay a fee to be able to be able toprocess transactions and select accounts as described herein. Such a feemay be, for example, annually or monthly imposed or may be charged on aone-time or per-transaction basis. In some embodiments, the fee maycomprise a monetary amount, reward, or any other form of measurablevalue.

Transactions processing module 240, may, in some embodiments, interfacewith borrowing schemes processing station 105, with any systems ornetworks that initiate, receive or process transactions (e.g., amerchants point-of-sale systems, a card processor's systems or networks,or a bank's or other financial institution systems or networks thatprocess transactions). Such systems or networks may process data orinformation relating to transactions conducted with an account ortransaction device, such as a debit card, credit card or other likedevice. In this way, whenever a customer conducts a transaction,borrowing scheme processing station 105, via transactions processingmodule 240, may receive data and information of relevance to the variousborrowing schemes described herein. For example, transactions processingmodule 240 may provide such data or information to Chase Simple module200, Chase Moments module 205, My Chase module 210, Chase Finish Linemodule 215, Chase Split module 220 or any other module depicted in FIG.2 or herein. For example, data and information acquired via transactionsprocessing module 240 may be used to: (1) identify transactions that maybe within certain categories in Chase Simple, Chase Split or My Chase,(2) determine whether a transaction is associated with a designatedevent in Chase Moments, (3) determine transaction balances in ChaseFinish Line, or (4) perform other features and functionality describedherein.

User interface module 245 may, in some embodiments, receive user orcustomer input relating to the various borrowing schemes describedherein. For example, user interface 245 may present to the user orcustomer various GUI's or interfaces corresponding to particularborrowing schemes. Such GUI's or interfaces may enable the user toprovide the requisite information and data to initiate a particularborrowing scheme functionality. For example, a user may interface with aGUI corresponding to Chase Split, for example, which requests from theuser at least one transaction qualification parameter associated withtransaction categories, as well as a term or number of paymentsdesignation associated with transaction categories. Similar GUIs andinterfaces may enable the user to provide inputs corresponding to theother borrowing schemes. In some embodiments, such GUIs or interfacesmay be accessible by the user at certain network locations or web sites,for example. In some embodiments, user interface module 245 maycooperate or interface with each of Chase Simple module 200, ChaseMoments module 205, My Chase module 210, Chase Finish Line module 215,Chase Split module 220, and Take Charge module 235 to receive data andinformation related to each respective borrowing schemes. Such data andinformation may then be presented to the user as necessary.

II. Chase Simple

In this scheme, a customer may revolve up to a designated balance ortransaction amount without paying interest rates. In some embodiments,such designated balance or transaction amount may be selected ordesignated by the customer before a transaction, at the time of atransaction, or after the transaction. For example, a customer mayspecify or designate which transactions are to be processedinterest-free based upon merchant or vendor identity (e.g., via merchantcategory code (MCC)), amount spent, transaction level, products or goodspurchased, or any other category designation that may be used toidentify balances or transactions that are not to accrue interest as setforth herein. For example, a customer may specify that purchases of morethan $2,000 not incur interest, or that purchases or transactions withselect merchants or for certain types of goods or services not incurinterest. Other parameters are possible. A customer may make his or herselections or designations by interacting with an online web site orportal, for example, where the customer may input the necessaryparameters. A customer may also make such selections or designations viaan Interactive Voice Response or a customer service representative, forexample.

The customer may be required to pay a membership fee, service charge, ormake a minimum monthly or other periodic payment, for example, in orderto receive the Chase Simple program. The customer may then pay down theprincipal of a balance or transaction covered by Chase Simple at thecustomer's discretion so long as the fee, charge or minimum paymentrequirement is being met. In some embodiments, the fee, charge orminimum payment may be based on the customer's credit limit or line orother borrowing particular, while in other embodiments it is not basedon the credit limit or line or other borrowing particular. In addition,in some embodiments statements may be simplified so that dollar amountsare rounded down. Further, missed payments may be charged by the day orother period of time (e.g., $1/day). In some embodiments, after apredetermined period or cycle of time (e.g., at the end of the firstyear), the customer may receive an annual borrowing report whichincludes a progress score, such as, for example, 0-100. The report mayshow score progress during the year (e.g., improvement/reduction). Insome embodiments, parameters of the cardholder's account may be modifiedsuch that the customer's monthly membership fee, for example, has beenlowered/increased as a result of his borrowing performance. Otherparameters may be modified or revised.

FIG. 3 illustrates an exemplary process flow for the Chase Simpleborrowing scheme. As shown, a customer 305 may approach the financialinstitution 310 through which the customer maintains an account or acard or transaction device to request initiation of the Chase Simpleborrowing scheme. In some embodiments, the request may be made online,such as through an online portal or web site which the customer interactwith to provide the necessary data and information to designate aparticular balance or transaction amount that is not to accrue interest.As shown, the customer requests a $5,000 limit with no interest. Thefinancial institution 310 agrees to provide such a limit, so long as thecustomer pays $20 per month. In some embodiments, the monthly payment isin addition to any payment that may be due under an ongoing balance. Ifthe customer is late in making payment, the financial institution maycharge an appropriate fee or charge, such as a daily fee or charge, forexample, or the financial institution may start accruing interest on thebalance maintained. Other fees or charges may be imposed. If, however,the customer is routinely on time in making payment, the financialinstitution may revise down (or eliminate) the requisite $20 monthlypayment.

FIG. 3 a illustrates a process 350 for providing a Chase Simpleborrowing scheme, according an embodiment of the systems and methodsdescribed herein. As shown, at step 355, an interest-free revolvingamount may be established. In some embodiments, the amount may bedetermined or established by or upon the request of a consumer, or uponthe offer of a bank, financial institution, or other individual orentity that may administer cards or other transaction devices. In someembodiments, the amount may be associated with a card, device oraccount. In some embodiments, the amount may comprise a maximum creditlimit up to which the user will not be charged interest. At step 360, aperiodic payment for maintaining the interest free revolving amount maybe established. In some embodiments, the periodic payment amount maycomprise a fee that is charged to the user to maintain the interest-freerevolving amount. In some embodiments, the amount is fixed regardless ofthe balance actually maintained, whereas in some embodiments, the feemay increase with the balance. At step 365, the interest-free revolvingamount or the periodic payment is revised based upon at least one userperformance metric over a predetermined period of time. In someembodiments, the at least one user performance metric may comprise aperiod of timely monthly payments by the user. That is, if the usermakes 12 payments on time, for example, the periodic payment amount maybe reduced.

FIG. 3 b illustrates one embodiment of a sample interface showing ascore provided to a customer for timely compliance with Chase Simplerequirements. As shown, the customer is rewarded a score of 82 (animprovement of 16 points from the previous year) for making 9 on timepayments, not spending over the credit line, and making 4 payments abovethe minimum. In some embodiments, the systems and methods describedherein may present other data and information related to the customer'sperformance, such as, for example, performance statistics and tips orsuggestions to improve the score. Scoring may be based upon anyappropriate method or algorithm.

FIG. 3 c is presented merely as an example of a possible offer to aconsumer regarding the Chase Simple borrowing scheme described herein.As shown in FIG. 3 c, a consumer may be offered a credit card, forexample, which has a zero annual percentage rate (APR), so long as theconsumer pays a flat fee of $50.00 per month. If this condition is met,the consumer will not accrue finance charges or incur interest ratefees. Although not shown in the offer, the credit card may specify thatonly particular transactions qualify for zero interest, or that any andall transactions processed with the card. Other like offerscorresponding to the other borrowing schemes set forth herein may alsobe proposed and presented to consumers.

III. Chase Moments

In this scheme, a customer may designate a particular event or moment(e.g., having a baby, going to college, vacation, etc.) that is toreceive particular borrowing terms or other treatment. Such event ormoment may constitute a purchase or other transaction, or any event orperiod of time during which the customer desires to receive different ormodified borrowing terms. For example, the customer may want helpfinancing a big purchase, such as a vacation or other like event. UsingChase Moments, a customer may go online and designate the event ormoment (e.g., designate an upcoming vacation). In some embodiments, thesystems and methods described herein may present various options for thecustomer to select from, or solicit criteria or information from thecustomer in order to better define the event or moment or to tailoroffers that may be of relevance. For example, the systems and methodsdescribed herein may ask or receive from the customer the location, timeframe, or other like information associated with the event or moment. Insome embodiments, such information may be determined by theadministrator of Chase Moments based on the event or moment defined bythe customer.

Based on the criteria or information provided by the customer, thesystems and methods described herein may then tailor particular offersthat may be of interest or relevance to the customer. In someembodiments, for example, assuming the event or moment is the customer'svacation, the customer may receive discounts for hotel, rental car, andother vacation related goods or services. In some embodiments, thecustomer's purchases or transactions during the trip receive a benefit.In some embodiments, the benefits received may be determined by theadministrator, while in some embodiments the benefits are determined bythe customer. For example, the customer may get interest on trippurchases deferred for an extra month. Other benefits are of coursepossible. The next month the customer may get her first statement in themail. In some embodiments, the customer may earn vacation rewards andreceive vouchers that she can use for her next vacation. In someembodiments, the systems and methods described herein may separatevacation expenses and transactions from other transactions, allowing thecustomer to pay down transactions from the trip or individually, or havesuch transactions receive particular benefits. In some embodiments,individual transactions associated with the vacation may be organized insuch a way that a customer may selectively pay down different tripexpenses, such as, for example, lodging, dining, entertainment.

FIG. 4 illustrates an exemplary process flow for the Chase Momentsborrowing scheme. A customer may approach the financial institutionthrough which the customer maintains an account or a card or transactiondevice, for example, to request initiation of the Chase Momentsborrowing scheme. In some embodiments, the request may be made via acustomer service representative or online, such as through an onlineportal or web site which the customer can interact with to provide dataand information required by Chase Moments. As shown, a customer maydesignate an event or moment, in this case a vacation. As shown, thecustomer enters into $2,500 worth of transactions during the vacation,and $1,000 in non-vacation expenses, for a total of $3,500 in expenses.Under Chase Moments, the systems and methods described herein may issueone or two statements wherein the details of the customer's transactionsand balances are presented. Such statement(s) may breakdown thetransactions and balances such that Chase Moment balances andtransactions (e.g., expenses and transactions during the vacation) areshown receiving a benefit or special treatment (e.g., no interest), andthe other expenses being processed in the normal course (e.g., withinterest). While the benefit or special treatment given to Chase Momentbalances and transactions is the suppression of interest, it may beappreciated that other benefits or special treatment are possible.

FIG. 4 a illustrates a process 420 for providing the Chase Momentsborrowing scheme, according to an embodiment of the systems and methodsdescribed herein. At step 425, a designated event is determined. In someembodiments, the designated event may be designated by a user and maycomprise a period of time, a transaction or event, for example. Forexample, an upcoming vacation may comprise the designated event. At step430, at least one parameter associated with the designated event isdetermined. For example, such parameter may comprise any data orinformation that may be used to identify purchases or transactionsassociated with the designated event. For a vacation, for example, suchparameter may comprise the name of the city, state, country, resort orother identifier that may be associated with the vacation. This way,purchases made at a certain location may be identified as beingassociated with the vacation. Other parameters are possible. At step435, incentives associated with the designated events are provided. Suchincentives may comprise rebates, rewards, coupons, discounter or otherpromotions that may be associated with the event. At step 440, incomingtransactions are assessed to see if they are associated with thedesignated event. At step 445, at least one benefit is rewarded totransactions associated with the designated event. At step 450, a useris permitted to selectively pay down transactions associated with thedesignated event.

IV. My Chase

This scheme permits a customer to schedule alerts to be delivered to thecustomer based on customer transaction behavior. In some embodiments, acustomer may set alerts for particular types or categories oftransactions. Such alerts may be based on thresholds or limitsdesignated by the customer. For example, a customer may request an alertwhen the customer spends a total of $100 on coffee, for example, orspends $20 at a particular merchant or vendor. Thresholds and limits maybe set for merchant category codes (MCC), merchant or vendor identity,amount spent, transaction level, products or goods purchased, or anyother category designation that may be used to initiate the generationand transmission of alerts as set forth herein. In some embodiments,thresholds, limits and category designations are determined by thecustomer, whereas in some embodiments they are determined by theadministrator of the systems and methods set forth herein or any otherthird party. In some embodiments, the thresholds or limits may beimposed for a predetermined period of time. For example, a customer maydesignate $500 per year on clothing, or $20 per week on coffee, or $100per month on dining. Other examples are of course possible. Alerts maybe sent to any location or device that may be designated by thecustomer, the administrator of the systems and methods described herein,or any third party. For example, alerts can be transmitted via email,telephone, mail, fax, or any other form of communication. Alerts mayalso be automated, while in some embodiments they may be delivered by alive agent. Alerts may be text and/or graphics.

FIG. 5 illustrates an exemplary process flow for the My Chase borrowingscheme. A customer may approach the financial institution through whichthe customer maintains an account or a card or transaction device, forexample, to request initiation of the My Chase borrowing scheme. In someembodiments, the request may be made via a customer servicerepresentative or online, such as through an online portal or web sitewhich the customer can interact with to provide data and informationrequired by My Chase. As shown, a customer may designate any number oftransaction categories and associated limits or thresholds that thecustomer would like to establish. For example, the customer hasdesignated that all clothing purchases be limited to $200 and thatentertainment expenses be limited to $150. In some embodiments, thelimits or thresholds may be set for a given cycle, such as daily, weeklymonth, quarterly, or any other periodic or random period of time. Asshown, the customer proceeds to spend $195 on clothing and $200 inentertainment. In response to this, the financial institution may issuethe customer an alert notifying the customer that the limit on clothingis fast approaching, and that the entertainment limit has been passed.In some embodiments, the alert may be issued as soon as transactiondetails are received or according to a predetermined alert schedule. Insome embodiments, the financial institution may also revise or modifyupcoming limits or thresholds to account for the customer exceeding theentertainment limit for the month.

FIG. 5 a illustrates a process 520 for providing a borrowing schemeaccording an embodiment of the systems and methods described herein. Atstep 525 a time-based spending alert threshold designation is receivedfrom a user. At step 530 at least one category of transactiondesignations is received from the user. In some embodiments, each of thecategories is associated with a portion of the time-based spending alertthreshold designation. At step, 535, user transactions are allocatedamong the categories. At step 540, the user is notified that the portionof the time-based spending alert threshold designation for a particularcategory is being approached or surpassed. At step 545, the portion ofthe time-based spending alert threshold designation for the particularcategory for the upcoming period is modified at that time if the limitis surpassed.

FIG. 5 b illustrates one embodiment of an interface the user mayinteract or interface with to designate transaction categories andassociated limits or thresholds. In step 1, for example, the customerselects a total threshold of $500 per month. In step 2, the customeruses drop down menus to particularize thresholds for individualcategories: $100 per month for home expenses, $25 per week forrestaurants, $200 per month for clothing, and $100 per month forentertainment. In step 3, the customer may designate alert and messagingpreferences.

V. Chase Finish Line

This scheme is designed to help a customer pay down a balance ortransaction(s). In some embodiments, the balance or transaction(s) maybe determined by the customer, such as by, for example, selecting aportion of an outstanding balance or particular transaction(s) to whicha custom, fixed or adjustable pay down plan is to be applied. In someembodiments, the customer may designate particular pay down terms andthe systems and methods described herein may determine other pay downterms based on the customer's selections. For example, a customer maydesignate a pay down goal of two years to pay off a recent purchase andthe systems and methods described herein may calculate a requiredmonthly payment that would permit the customer the pay off thetransaction in two years. If the monthly payment does not satisfy thecustomer, the customer may pick a more manageable monthly payment of$400 and the system and method described herein can calculate a how longit would take to pay down the balance or transaction at that monthlyrate.

In some embodiments, Chase Finish Line may show progress towards a goalor pay down plan. For example, as the customer diligently makes his $400monthly payments to pay down a balance or transaction, Chase Finish Linemay show progress towards the goal in the statement issued to thecustomer. In some embodiments Chase Finish Line may issue rewards orother incentives for timely payments to pay down of selected balance ortransactions. For example, every on-time payment the customer makes mayearn reward points or credits that may be accumulated and redeemed forany number of incentives. Such incentives may relate to the particularbalance or transaction being paid down. For example, if the customerstays on track, he may earn sufficient points or credits so that thefinal payment may be waived or made for him. In some embodiments, pointsor credits accumulated through Chase Finish Line may be applied toanother rewards bank of the customer, such as a rewards program.

In some embodiments, Chase Finish Line may permit the customer toselectively control payment due dates. For example, assume that a yearinto paying down a particular balance or transaction, the customer findsout his car's transmission needs to be replaced. The customer wants tostay on track with his Chase Finish payments, but this month poses anexceptional challenge for him because of the unexpected expense ofreplacing the transmission. To accommodate this circumstance, ChaseFinish Line permits the customer to push or delay his payment out amonth (or any other predetermined period of time) so that the customermay meet the unexpected expense without financial difficulty.

In some embodiments, a customer may use Chase Finish Line to designateany number of balance or transaction buckets, each one of which may beassociated with a particular pay down plan. For example, a customer mayhave a “necessities” bucket devoted to purchases made at a grocerystore, home expenses and other like necessities. Another bucket maydevoted to entertainment expenses and may include expenses atrestaurants, movie theaters, and other like entertainment relatedpurchases and transactions. Each of these buckets may then be associatedwith a particular pay down plan which may be revised or modified asneeded.

FIG. 6 illustrates an exemplary process flow for the Chase Finish Lineborrowing scheme. A customer may approach the financial institutionthrough which the customer maintains an account or a card or transactiondevice, for example, to request initiation of the Chase Finish Lineborrowing scheme. In some embodiments, the request may be made via acustomer service representative or online, such as through an onlineportal or web site which the customer can interact with to provide dataand information required by Chase Finish Line. As shown, a customer maymake a $5,000 purchase or transaction. The customer may request to payoff the balance in two years or that he would like to pay down thebalance by paying $200 per month. The financial institution may thendetermine other particulars of the pay down arrangement based on thecustomer's selection. For example, if the customer wants to pay off thebalance in two years, the financial institution would determine theminimum monthly payment required, whereas if the customer wants to pay$200 per month, the financial institution would determine how long thecustomer needs to be making payment. In addition, in some embodiments,the financial institution may reward the customer for timely payment andcompliance with the pay down schedule and terms, such as offering to paythe last payment, for example. Other reward forms are possible.

FIG. 6 a illustrates a process 620 for providing a borrowing schemeaccording an embodiment of the systems and methods described herein. Atstep 625, at least one pay down parameter associated with at least onetransaction balance is received. At step 630, at least one other paydown parameter based on the user selection is determined. In someembodiments, the at least one pay down parameter and the at least oneother pay down parameter comprise the pay down terms for the transactionbalance. At step 635, the user is permitted to selectively modify theterms of pay down during a pay back period.

FIG. 6 b illustrates one embodiment of a process flow for Chase FinishLine. As shown, in step 1, a customer may select a balance ortransaction to process under Chase Finish Line. At step 2, the customerselects a plan that best fits his schedule. In some embodiments, thevarious plans may be determined by Chase Finish Line module based on thecustomer's balance or transaction selection in step 1. At step 3, thecustomer's next statement will separate the Chase Finish Linetransactions so that the customer can monitor progress. At step 4, thecustomer may send a check or other payment form that includes the CheckFinish Line balance. At step 5, the customer can track progress towardsthe pay down goal. At step 6, the financial institution may reward thecustomer for compliance with the pay down plan. At any time during thepay down period, the customer may selectively push back a due date, withor without penalty, and the Chase Finish Line module may modify the paydown schedule accordingly.

VI. Chase Split

Chase Split is a feature that splits purchases into designated paymentarrangements, such as, for example, a predetermined number of monthlypayments. For example, a customer may choose to split a particularpurchase or transaction into 4 monthly payments, into 12 payments, orany number of payments that the customer may desire. The designatedpayments may then be paid manually or set up through an auto payarrangement (e.g., a monthly or other cycle payment that would bededucted from the customer's checking or other account). In someembodiments, the systems and methods described herein may also permitthe customer to designate an account hierarchy so that a secondary orother account may be utilized if the primary account selection lackssufficient funds or credit.

In some embodiments, a customer may initiate or engage this feature bydesignating a particular balance or transaction to be split into anynumber of payments. Such designation may be made before the transaction,at the time of the transaction, or after the transaction. For example, acustomer may access an online portal or other interface associated withthe administrator of the systems described herein to select particularparameters that define how transactions should be processed and split.In some embodiments, a customer may set up parameters so that certaintypes or categories of transactions are split into a predeterminednumber of payments. In some embodiments, a customer may selectivelyarrange for the splitting of transactions based upon merchant categorycode (MCC), dollar value, geographic location, time of transaction, orany other parameter that may be used to process and split transactions.For example, the customer may specify that purchases or transactionsover $300 are split automatically into four (or any number of payments),while purchases or transactions that are less than that amount are paidin full. In some embodiments, a customer may specify that purchases ortransactions at a particular merchant or category of merchant (e.g., adepartment store) be split into a designated number of payments, whereaseveryday expenses (e.g., groceries, gasoline, etc.) are automaticallypaid in full or according to another split schedule. Likewise, acustomer may designate particular goods or services be split into adesignated number of payments. For example, a customer may request thather daily latte purchase be split into two payments or other appropriateor desired payment cycle.

In some embodiments, the systems and methods described herein may imposecertain thresholds on split payments. For example, assume a customerpurchases a particular dress at a department store. On her first onlinebilling statement, the customer may see the dress laid out in thedesignated monthly or other cycle payments. The first payment may be,for example, the interest up front ($25), followed by the 4 equalpayments of $100. The customer may also see in her statement thatsmaller expenses are rolled into one sum total of $250. She can splitthat total into 4 monthly payments or pay it off immediately. Thecustomer may decide to pay off the “other” category right away. In someembodiments, the customer may set a monthly threshold of a designatedamount (e.g., $500) so that in the aggregate the total amount duemonthly or other cycle does not become unmanageable. In someembodiments, the customer may initiate a message alert option which letsthe customer know if she is coming close to her designated threshold.

In some embodiments, the systems and methods described herein may permitthe customer to look ahead to future months and anticipate how she isdoing with respect to her borrowing thresholds. For each month thecustomer may see a threshold tracker that provides a quick snapshot ofhow close her upcoming payments are to her threshold. In addition tomaking her borrowing predictable, the systems and methods describedherein may reward the customer for making her payments. For example, thecustomer may earn reward points or other value for every on-time splitpayment.

FIG. 7 illustrates an exemplary process flow for the Chase Splitborrowing scheme. A customer may approach the financial institutionthrough which the customer maintains an account or a card or transactiondevice, for example, to request initiation of the Chase Split borrowingscheme. In some embodiments, the request may be made via a customerservice representative or online, such as through an online portal orweb site which the customer can interact with to provide data andinformation required by Chase Split. As shown, a customer designates$1,200 in purchases be split. The financial institution may then splitthe balance into any number of payments, such as, for example, 12monthly payments of $100 each or 4 monthly payments of $300 each. Thedifferent split options may be determined by the customer or thefinancial institution. In some embodiments, the customer may setparticular thresholds, such as, for, example, that transactions of morethan $1,000 get split into 12 payments and all other into 4 payments.The customer may also set total thresholds that should not be surpassed.

FIG. 7 a illustrates a process 720 for providing a borrowing schemeaccording to an embodiment of the systems and methods described herein.At step 725, a transaction qualification parameter associated with atransaction category is received from a user. At step 730, a term ornumber of payments designation associated with the transaction categoryis received from the user. At step 735, a determination is made as towhether an incoming transaction is within the transaction category. Insome embodiments, the step of determining whether an incomingtransaction is within the transaction category may comprise determiningwhether the incoming transaction meets the transaction qualificationparameter associated with the transaction category. In some embodiments,such determination may be made by borrowing scheme processing station105, or any other system or network that receives or processes data orinformation related to customer transactions. At step 740, the user isinvoiced for the upcoming transaction according to the paper first orsecond pay term parameter.

FIG. 7 b illustrates one embodiment of a process flow for Chase Split.In step 1, a customer may select the types or categories of transactionsthe he wants to split and into how many payments. At step 2, thefinancial institution will comply with the customer's selections anddesignations and move individual transactions into the appropriate splitbucket (e.g., balance). At step 3, a customer may individually move atransaction or balance into a split balance as needed. At step 4, acustomer's statement may present the various split balances in anorganized manner. At step 5, the customer may send a payment thatincludes the normal credit card payment, for example, and the splitamount that is due. In step 6, statements may be issued to the customerthat track performance towards the split goals. At step 7, if thecustomer misses a split payment, then the missed amount may be movedinto a regular credit card balance, for example, or the remaining splitpayments may be modified (e.g., increased) to account for the missedpayment.

VII. Other Features and Borrowing Schemes

FIG. 8 illustrates a process 800 for requesting a specific due date,according to an embodiment of the systems and methods described herein.At step 805, a due date request is received from a customer. At step810, an amount due is determined based on the due date request receivedfrom the customer. At step 815, a statement issued to the customer whichsets a due date as requested.

Another borrowing scheme is referred to as Take Charge. Take Charge is afeature that permits a customer to designate certain transactions orbalances to be paid in full each month. A customer may designate whichtransactions or balances are to be paid in full based upon merchantcategory code (MCC), merchant or vendor identity, amount spent,transaction level, products or goods purchased, or any other categorydesignation that may be used to identify balances or transactions. Forexample, a customer may designate that any transaction below $200 bepaid in full each month, or that all transactions with a particularmerchant or category of merchants or for a particular or category ofgoods or services be paid in full each month. Based on the customer'sdesignations, the systems and methods described herein may process acustomer's transactions and add qualifying transactions into apay-in-full bucket and reported as such in the next statement. Thecustomer may then send a payment to zero out the paid in full bucket, orthe customer may enroll in auto pay so that the amount is automaticallypaid at the end of the month. If the customer does not pay off the paidin full bucket, then the systems and methods described herein may movethe balance back to an interest charging bucket, such as a standardrevolving balance or a balance associated with any other borrowingscheme.

FIG. 9 illustrates a process flow for the Take Charge scheme. At step 1,a customer may select balances or transactions that he would like paidin full. At step 2, any transactions that fall within the customer'sdesignations may be added to a paid in full bucket (e.g., balance) thatdoes not accrue interest so long as the customer does in fact pay theamount of each month (or other appropriate cycle), as stated in step 3.At step 4, the customer's statement will group all pay in fulltransactions and balances so that the customer may track his progress.At step 5, upon receiving the statement, for example, the customer maysend a check that includes the normal credit card amount due, forexample, and the paid in full amount that is due. At step 6, if the paidin full amount is not zeroed out, then the balance may be moved to thenormal credit card bucket wherein thereafter it will accrue interest.

VIII. Statementing Feature and Sample Statement

Another aspect of the invention relates to the statementing of accountparticulars which correspond to the borrowing schemes described above.For example, a statementing feature of the invention may organize dataand information related to a customer's account into a statement orother account documentation which includes particulars on the customer'stransactions with the account, such as transaction date, amount,merchant identity, and other relevant details. In some embodiments, thestatementing feature may receive and process data and informationrelated to the various borrowing schemes described, and then organizeand incorporate such data and information into a statement or otheraccount document to be presented to the customer. Such statement orother account document may include details about the customer's accounttransactions and balances, and may particularly present transactions andbalances associated with any of the borrowing schemes described herein.In some embodiments, group transactions may be presented on a statementby merchant category code (MCC) to help customer's understand spending.

In some embodiments, the systems and methods described herein mayprovide a user with a statement (e.g., a monthly or other periodicstatement) which provides transaction and account details correspondingto one or more borrowing schemes the user has enrolled in. In so doing,statementing module or processor, for example, may first need todetermine the borrowing schemes a user is enrolled in. This may be doneby querying each of the borrowing scheme modules or processors of FIG.2, for example, for the enrollment status of a particular user. If theuser is enrolled in a particular borrowing scheme for a given cycle orperiod of time, for example, statementing module or processor may thenreceive from the corresponding borrowing scheme processor or module theuser's transaction and account particulars associated for the givencycle or period of time. Next, statementing module or processor mayautomatically generate statement details associated with the at leastone borrowing scheme, and thereafter provide the statement details tothe user via an online statement or a physical hard copy statement. Insome embodiments, the statement details may comprise a listing of allborrowing schemes the user has enrolled in, transaction and accounthistory for each of the borrowing schemes, a total minimum paymentamount due, and a comparative summary of account activity under each ofthe borrowing schemes. Other details are possible. For example, theuser's total minimum payment amount may comprise at least the sum ofminimum payments due under each of the borrowing schemes the user hasenrolled in.

The statementing feature of the invention may also present a customerwith the opportunity to select a desired due date, even thoughstatements may still be issued monthly or periodically. For example, acustomer may request that payments be due every two months rather thanthe traditional monthly cycle. Upon receiving such a request, thestatementing feature may calculate the minimum payments that would bedue under such a payment cycle, as well as other payment particularsrelevant to the borrowing schemes the customer has enrolled in. Forexample, a statement may present transactions, balances and payments due(including minimum payments) under each of the particular borrowingschemes.

FIGS. 10 a, 10 b, and 10 c depict an embodiment of a statement 1000 thatpresents to a customer or card holder, for example, data and informationrelated to the borrowing schemes set forth herein. As shown in FIG. 10a, the information provided relates to an account ending in 2290.Section 1005, titled “Visa Account Summary” presents informationcommonly provided by existing account statements and invoices. Section1010, titled “Minimum Payment Due—Goal Breakdown,” presents informationrelated to various schemes selected or added by the customer to his orher account. As shown, 1010 illustrates to the customer what makes upthe minimum amount due and the monthly payment so that the consumer canorganize his or her spending. For example, the minimum payment iscomposed of credit charges of $28.51, Chase Split charges of $53.75 andFinish Line charges of $60.10. The monthly payment goal for the variousborrowing schemes may also be presented. FIG. 10 b illustrates thecustomer's transactions for the period, and include transactionscorresponding to the particular borrowing schemes. In addition, thestatement, as shown in FIGS. 10 b and 10 c, may also present moreparticularized data so that the customer appreciates how balances andpayments are determined.

Hereinafter, aspects of implementation of the invention will bedescribed. As described above, FIG. 1 shows embodiments of a system ofthe invention. The system of the invention or portions of the system ofthe invention may be in the form of a “processing machine,” such as ageneral purpose computer, for example. As used herein, the term“processing machine” is to be understood to include at least oneprocessor that uses at least one memory. The at least one memory storesa set of instructions. The instructions may be either permanently ortemporarily stored in the memory or memories of the processing machine.The processor executes the instructions that are stored in the memory ormemories in order to process data. The set of instructions may includevarious instructions that perform a particular task or tasks, such asthose tasks described above in the flowcharts. Such a set ofinstructions for performing a particular task may be characterized as aprogram, software program, or simply software.

As noted above, the processing machine executes the instructions thatare stored in the memory or memories to process data. This processing ofdata may be in response to commands by a user or users of the processingmachine, in response to previous processing, in response to a request byanother processing machine and/or any other input, for example. Asdescribed herein, a module performing functionality may comprise aprocessor and vice-versa.

As noted above, the processing machine used to implement the inventionmay be a general purpose computer. However, the processing machinedescribed above may also utilize any of a wide variety of othertechnologies including a special purpose computer, a computer systemincluding a microcomputer, mini-computer or mainframe for example, aprogrammed microprocessor, a micro-controller, a peripheral integratedcircuit element, a CSIC (Customer Specific Integrated Circuit) or ASIC(Application Specific Integrated Circuit) or other integrated circuit, alogic circuit, a digital signal processor, a programmable logic devicesuch as a FPGA, PLD, PLA or PAL, or any other device or arrangement ofdevices that is capable of implementing the steps of the process of theinvention.

It is appreciated that in order to practice the method of the inventionas described above, it is not necessary that the processors and/or thememories of the processing machine be physically located in the samegeographical place. That is, each of the processors and the memoriesused in the invention may be located in geographically distinctlocations and connected so as to communicate in any suitable manner.Additionally, it is appreciated that each of the processor and/or thememory may be composed of different physical pieces of equipment.Accordingly, it is not necessary that the processor be one single pieceof equipment in one location and that the memory be another single pieceof equipment in another location. That is, it is contemplated that theprocessor may be two pieces of equipment in two different physicallocations. The two distinct pieces of equipment may be connected in anysuitable manner. Additionally, the memory may include two or moreportions of memory in two or more physical locations.

To explain further, processing as described above is performed byvarious components and various memories. However, it is appreciated thatthe processing performed by two distinct components as described abovemay, in accordance with a further embodiment of the invention, beperformed by a single component. Further, the processing performed byone distinct component as described above may be performed by twodistinct components. In a similar manner, the memory storage performedby two distinct memory portions as described above may, in accordancewith a further embodiment of the invention, be performed by a singlememory portion. Further, the memory storage performed by one distinctmemory portion as described above may be performed by two memoryportions.

Further, various technologies may be used to provide communicationbetween the various processors and/or memories, as well as to allow theprocessors and/or the memories of the invention to communicate with anyother entity; i.e., so as to obtain further instructions or to accessand use remote memory stores, for example. Such technologies used toprovide such communication might include a network, the Internet,Intranet, Extranet, LAN, an Ethernet, or any client server system thatprovides communication, for example. Such communications technologiesmay use any suitable protocol such as TCP/IP, UDP, or OSI, for example.

As described above, a set of instructions is used in the processing ofthe invention. The set of instructions may be in the form of a programor software. The software may be in the form of system software orapplication software, for example. The software might also be in theform of a collection of separate programs, a program module within alarger program, or a portion of a program module, for example Thesoftware used might also include modular programming in the form ofobject oriented programming. The software tells the processing machinewhat to do with the data being processed.

Further, it is appreciated that the instructions or set of instructionsused in the implementation and operation of the invention may be in asuitable form such that the processing machine may read theinstructions. For example, the instructions that form a program may bein the form of a suitable programming language, which is converted tomachine language or object code to allow the processor or processors toread the instructions. That is, written lines of programming code orsource code, in a particular programming language, are converted tomachine language using a compiler, assembler or interpreter. The machinelanguage is binary coded machine instructions that are specific to aparticular type of processing machine, i.e., to a particular type ofcomputer, for example. The computer understands the machine language.

Any suitable programming language may be used in accordance with thevarious embodiments of the invention. Illustratively, the programminglanguage used may include assembly language, Ada, APL, Basic, C, C++,COBOL, dBase, Forth, Fortran, Java, Modula-2, Pascal, Prolog, REXX,Visual Basic, and/or JavaScript, for example. Further, it is notnecessary that a single type of instructions or single programminglanguage be utilized in conjunction with the operation of the system andmethod of the invention. Rather, any number of different programminglanguages may be utilized as is necessary or desirable.

Also, the instructions and/or data used in the practice of the inventionmay utilize any compression or encryption technique or algorithm, as maybe desired. An encryption module might be used to encrypt data. Further,files or other data may be decrypted using a suitable decryption module,for example.

As described above, the invention may illustratively be embodied in theform of a processing machine, including a computer or computer system,for example, that includes at least one memory. It is to be appreciatedthat the set of instructions, i.e., the software for example, thatenables the computer operating system to perform the operationsdescribed above may be contained on any of a wide variety of media ormedium, as desired. Further, the data that is processed by the set ofinstructions might also be contained on any of a wide variety of mediaor medium. That is, the particular medium, i.e., the memory in theprocessing machine, utilized to hold the set of instructions and/or thedata used in the invention may take on any of a variety of physicalforms or transmissions, for example. Illustratively, the medium may bein the form of paper, paper transparencies, a compact disk, a DVD, anintegrated circuit, a hard disk, a floppy disk, an optical disk, amagnetic tape, a RAM, a ROM, a PROM, a EPROM, a wire, a cable, a fiber,communications channel, satellite transmissions or other remotetransmission, as well as any other medium or source of data that may beread by the processors of the invention.

Further, the memory or memories used in the processing machine thatimplements the invention may be in any of a wide variety of forms toallow the memory to hold instructions, data, or other information, as isdesired. Thus, the memory might be in the form of a database to holddata. The database might use any desired arrangement of files such as aflat file arrangement or a relational database arrangement, for example.

In the system and method of the invention, a variety of “userinterfaces” may be utilized to allow a user to interface with theprocessing machine or machines that are used to implement the invention.As used herein, a user interface includes any hardware, software, orcombination of hardware and software used by the processing machine thatallows a user to interact with the processing machine. A user interfacemay be in the form of a dialogue screen for example. A user interfacemay also include any of a mouse, touch screen, keyboard, voice reader,voice recognizer, dialogue screen, menu box, list, checkbox, toggleswitch, a pushbutton or any other device that allows a user to receiveinformation regarding the operation of the processing machine as itprocesses a set of instructions and/or provide the processing machinewith information. Accordingly, the user interface is any device thatprovides communication between a user and a processing machine. Theinformation provided by the user to the processing machine through theuser interface may be in the form of a command, a selection of data, orsome other input, for example.

As discussed above, a user interface is utilized by the processingmachine that performs a set of instructions such that the processingmachine processes data for a user. The user interface is typically usedby the processing machine for interacting with a user either to conveyinformation or receive information from the user. However, it should beappreciated that in accordance with some embodiments of the system andmethod of the invention, it is not necessary that a human user actuallyinteract with a user interface used by the processing machine of theinvention. Rather, it is contemplated that the user interface of theinvention might interact, i.e., convey and receive information, withanother processing machine, rather than a human user. Accordingly, theother processing machine might be characterized as a user. Further, itis contemplated that a user interface utilized in the system and methodof the invention may interact partially with another processing machineor processing machines, while also interacting partially with a humanuser.

It will be readily understood by those persons skilled in the art thatthe present invention is susceptible to broad utility and application.Many embodiments and adaptations of the present invention other thanthose herein described, as well as many variations, modifications andequivalent arrangements, will be apparent from or reasonably suggestedby the present invention and foregoing description thereof, withoutdeparting from the substance or scope of the invention.

Accordingly, while the present invention has been described here indetail in relation to its exemplary embodiments, it is to be understoodthat this disclosure is only illustrative and exemplary of the presentinvention and is made to provide an enabling disclosure of theinvention. Accordingly, the foregoing disclosure is not intended to beconstrued or to limit the present invention or otherwise to exclude anyother such embodiments, adaptations, variations, modifications andequivalent arrangements.

The embodiments of the present inventions are not to be limited in scopeby the specific embodiments described herein. For example, although manyof the embodiments disclosed herein have been described with referenceto contribution of money or funds to a transactions device, theprinciples herein are equally applicable to the contribution of any typeof benefit, reward or other value that may identified and contributed toa transactions device. In addition, although many of the embodimentsdisclosed herein have been described with reference to a savings andtransactions processing station that is associated with an administratorof financial instrument or device programs, such as a bank, for example,it should be appreciated that various aspects of the invention may beaccomplished when various system components are located elsewhere oradministered by other individuals or entities. For instance, theborrowing schemes processing station 105 described herein may bemaintained and administered by a third party service provider. Indeed,various modifications of the embodiments of the present inventions, inaddition to those described herein, will be apparent to those ofordinary skill in the art from the foregoing description andaccompanying drawings. Thus, such modifications are intended to fallwithin the scope of the following appended claims.

Further, although the embodiments of the present inventions have beendescribed herein in the context of a particular implementation in aparticular environment for a particular purpose, those of ordinary skillin the art will recognize that its usefulness is not limited thereto andthat the embodiments of the present inventions can be beneficiallyimplemented in any number of environments for any number of purposes.Accordingly, the claims set forth below should be construed in view ofthe full breadth and spirit of the embodiments of the present inventionsas disclosed herein.

What is claimed is:
 1. An automated method for providing a borrowing scheme, the method comprising the steps of: receiving a time-based spending alert threshold designation from a user via a network; receiving a designation of at least one category of transactions from the user via the network; receiving an allocation, from the user, of a portion of the time-based spending total threshold designation to the at least one category; automatically allocating one or more user transactions to the at least one category using a programmed computer processor upon the one or more user transactions meeting criteria for the at least one category; notifying the user via the network of a status of the time-based spending alert threshold designation for the at least one category comprising information that the time-based spending alert threshold designation is being approached or surpassed; and automatically modifying, by the programmed computer processor, the portion of the time-based spending alert threshold designation designated for a particular category for an upcoming period of time upon the portion being surpassed for the particular category.
 2. The automated method of claim 1 wherein the at least one category of transactions comprises at least one category of purchase transactions.
 3. The automated method of claim 1 wherein the customer reduces a future month/cycle budget by an amount that the time-based spending alert threshold designation is surpassed in a previous month/cycle.
 4. The automated method of claim 1 wherein the user is notified when the allocated transaction amount for a particular category is a certain percentage or more of the designated portion of the time-based spending alert threshold for the particular category.
 5. The automated method of claim 1 wherein the at least one category of transactions comprises a merchant category code (MCC), a merchant or vendor identity, an amount spent, a transaction level, or products or goods purchased.
 6. The automated method of claim 1 wherein the time-based spending alert threshold designation is received via an online portal.
 7. The automated method of claim 1 wherein the time-based spending alert threshold designation is received via a customer service representative.
 8. The automated method of claim 1 wherein the at least one category of transaction designations is received via an online portal.
 9. The automated method of claim 1 wherein the time-based spending alert threshold designation is valid for a specified period of time.
 10. The automated method of claim 9 wherein the specified period of time comprises daily, weekly, monthly, quarterly, or yearly periods of time.
 11. A system for processing account transactions, comprising: an account transactions processor for processing transactions conducted using an account, and a borrowing scheme processor for: (1) receiving a time-based spending alert threshold designation from a user, (2) receiving a designation of at least one category of transactions from the user, and receiving an allocation, from the user, of a portion of the time-based spending total threshold designation to the at least one category, (3) notifying the user of a status of the time-based spending alert threshold designation for a particular category upon the time-based spending alert threshold designation being approached or surpassed, and (4) modifying the portion of the time-based spending alert threshold designation for the particular category for an upcoming period of time upon the designation portion of the time-based spending alert threshold being surpassed.
 12. The system of claim 11 wherein the at least one category of transactions comprises at least one category of purchase transactions.
 13. The system of claim 11 wherein the customer reduces a future month/cycle budget by an amount the time-based spending alert threshold designation is surpassed in a previous month/cycle.
 14. The system of claim 11 wherein the user is notified when the allocated transaction amount for a particular category is a certain percentage or more of the designated portion of the time-based spending alert threshold designation for the particular category.
 15. The system of claim 11 wherein the at least one category of transactions comprises a merchant category code (MCC), a merchant or vendor identity, an amount spent, a transaction level, or products or goods purchased.
 16. The system of claim 11 wherein the time-based spending alert threshold designation is received via an online portal.
 17. The system of claim 11 wherein the time-based spending alert threshold designation is received via a customer service representative.
 18. The system of claim 11 wherein the at least one category of transaction designations is received via an online portal.
 19. The system of claim 11 wherein the time-based spending alert threshold designation is valid for a specified period of time.
 20. The system of claim 19 wherein the specified period of time comprises daily, weekly, monthly, bi-monthly, quarterly, or yearly periods of time.
 21. The system of claim 11 further comprising a statement processor or module which is programmed to perform the following steps: determine at least one borrowing scheme the a user is enrolled in; receive transaction and account particulars associated with the at least one borrowing scheme from the borrowing scheme processor; automatically generate statement details associated with the at least one borrowing scheme; and provide the statement details to the user via an online statement or a physical hard copy statement.
 22. A system for processing account transactions, comprising: an account transactions processor for processing transactions conducted with an account; a borrowing scheme processor for: (1) receiving a time-based spending alert threshold designation from a user, via an online portal or a customer service representative, that is valid for a specified period of time, (2) receiving a designation of at least one category of transactions from the user that is associated with a designated portion of the time-based spending alert threshold designation, and the at least one category of transactions comprises at least one category of purchase transactions, a merchant category code (MCC), a merchant or vendor identity, an amount spent, a transaction level, or products or goods purchased, (3) notifying the user of a status of the time-based spending alert threshold designation for each category that is being approached or surpassed when the allocated transaction amount for the particular category is a certain percentage or more of the portion of the time-based spending alert threshold designated for the particular category, and (4) modifying the portion of the time-based spending alert threshold designation for the particular category for an upcoming period of time when the designated portion of the time-based spending alert threshold designation for the particular category is surpassed, and a statement processor for: (1) determining at least one borrowing scheme the user is enrolled in, (2) receiving transaction and account particulars associated with the at least one borrowing scheme from the borrowing scheme processor, (3) automatically generating statement details associated with the at least one borrowing scheme, and (4) providing the statement details to the user via an online statement or a physical hard copy statement. 